MN SF4663

Commissioner of Revenue must submit report to legislative tax committees by January 1, 2025 on corporate tax base erosion in Minnesota

Report must analyze types of international corporate structures that reduce income apportionable to Minnesota and estimate revenue impact on corporate franchise tax collections

Report must evaluate state's current treatment of income under Internal Revenue Code section 951A and assess effectiveness in addressing tax base erosion

Report must examine legislative options for addressing tax base erosion, including worldwide combined reporting, with analysis of administrative impacts and litigation risks

Report must include recommendations for potential modifications to corporate franchise tax law and administrative changes needed to implement various options